BlackRock Fund Advisors recently announced the acquisition of new stake in Big Lots Inc. (NYSE:BIG). The institutional investor has increased its shareholding in the Consumer Defensive company by 2.42% to 5.68 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 14.49% valued currently at $223.62 million. In addition, Ancora Advisors LLC raised its holdings by 0.15 million to 2.61 million shares. And Dimensional Fund Advisors LP has lifted its position by 15.71% or 0.32 million shares – to 2.39 million shares.
With over 5.91 million Big Lots Inc. (BIG) shares trading Friday and a closing price of $49.96 on the day, the dollar volume was approximately $295.18 million. The shares have shown a negative weekly performance of -2.95% and its price on 08/28/20 lost nearly -10.31%. Currently, there are 39.13M common shares owned by the public and among those 38.37M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for BIG have a consensus price objective of $50.38. The analysts have set the share’s price value over the next 12 months at a high of $65.00 and a low of $32.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Big Lots Inc. stock is 2.80 for the next 12 months. The average price target is -7.44% below its last price level and a downside to the estimated low will see the stock lose -56.13% over that period. But an upside of 23.14% will see the stock hit the forecast high price target while mean target price for the stock is $52.50.
Insiders at the company have transacted a total of 81 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 47 of these insider trades were purchases, accounting for 1,062,703 shares. Insider sales of the common stock occurred on 34 occasions, with total insider shares sold totaling 157,245 shares.
The top 3 mutual fund holders in Big Lots Inc. are iShares Core S&P Small Cap ETF, Fidelity Low Priced Stock Fund, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 2.45 million shares of the company’s stock, all valued at over $96.33 million. The company bought an additional 15395.0 shares recently to bring their total holdings to about 6.24% of the shares outstanding. Fidelity Low Priced Stock Fund sold 1522.0 shares to see its total holdings shrink to 1.43 million shares valued at over $56.38 million and representing 3.65% of the shares outstanding. Vanguard Total Stock Market Index sold 1611.0 shares to bring its total holdings to over 1.12 million shares at a value of $44.03 million. Vanguard Total Stock Market Index now owns shares totaling to 2.85% of the shares outstanding.
Shares of Big Lots Inc. (NYSE: BIG) opened at $53.06, down -$2.64 from a prior closing price of $55.70. However, the script later closed the day at $49.96, down -10.31%. The company’s stock has a 5-day price change of -2.95% and 33.91% over the past three months. BIG shares are trading 73.96% year to date (YTD), with the 12-month market performance up to 126.99% higher. It has a 12-month low price of $10.13 and touched a high of $57.24 over the same period. Currently, 5.91 million shares have been traded, compared to an average intraday trading volume of 1.93 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.83%, 16.64%, and 71.54% respectively.
Institutional ownership of Big Lots Inc. (NYSE: BIG) 39.13M shares outstanding. Mutual fund holders own 52.49%, while other institutional holders and individual stakeholders account for 53.83% and 17.83% respectively.
It has a market capitalization of $2.19B and a beta (3y monthly) value of 2.65. The stock’s trailing 12-month PE ratio is 7.08, while the earnings-per-share (ttm) stands at $7.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.36% over the week and 5.22% over the month.
Analysts forecast that Big Lots Inc. (BIG) will achieve an EPS of -$0.06 for the current quarter, $2.56 for the next quarter and $5 for 2022. The lowest estimate earnings-per-share for the quarter is -$0.48 while analysts give the company a high EPS estimate of $0.38. Comparatively, EPS for the current quarter was -$0.18 a year ago. Earnings per share for the fiscal year are expected to increase by 60.90%, and -22.53% over the next financial year. EPS should shrink at an annualized rate of -0.62% over the next five years, compared to 20.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Big Lots Inc. (BIG) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 5 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BIG, a number of firms have released research notes about the stock. Loop Capital stated their Buy rating for the stock in a research note on June 29, 2020, with the firm’s price target at. Goldman coverage for the Big Lots Inc. (BIG) stock in a research note released on May 18, 2020 offered a Neutral rating with a price target of $25. Telsey Advisory Group was of a view on May 04, 2020 that the stock is Outperform, while Piper Sandler gave the stock Overweight rating on May 01, 2020, issuing a price target of $21- $34. JP Morgan on their part issued Neutral rating on April 09, 2020.